Mediolanum International Funds Ltd Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Mediolanum International Funds Ltd bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 13,489 shares of the company’s stock, valued at approximately $515,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Highland Capital Management LLC acquired a new stake in Robinhood Markets in the fourth quarter worth $242,000. Swedbank AB increased its position in Robinhood Markets by 14.5% in the fourth quarter. Swedbank AB now owns 258,435 shares of the company’s stock worth $9,629,000 after buying an additional 32,714 shares during the period. Masso Torrence Wealth Management Inc. acquired a new stake in Robinhood Markets in the fourth quarter worth $264,000. BOCHK Asset Management Ltd acquired a new stake in Robinhood Markets in the fourth quarter worth $16,640,000. Finally, Robeco Institutional Asset Management B.V. increased its position in Robinhood Markets by 28.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,488,308 shares of the company’s stock worth $55,454,000 after buying an additional 327,068 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOOD has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Barclays increased their price target on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup increased their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Morgan Stanley increased their price target on Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Stock Down 2.0 %

Shares of NASDAQ HOOD opened at $51.95 on Monday. Robinhood Markets, Inc. has a 12 month low of $10.51 and a 12 month high of $53.51. The company has a market cap of $45.92 billion, a price-to-earnings ratio of 88.05, a P/E/G ratio of 0.69 and a beta of 2.07. The business has a fifty day simple moving average of $41.88 and a 200-day simple moving average of $30.18.

Insider Activity

In related news, Director Meyer Malka sold 105,875 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the sale, the director now directly owns 28,930,243 shares of the company’s stock, valued at approximately $867,907,290. This represents a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 108,964 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the sale, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $62,823.32. This represents a 97.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,047,400 shares of company stock valued at $164,578,352 over the last three months. Insiders own 19.95% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.